Inchcape PLC (LON:INCH) has appointed Duncan Tait as chief executive to replace Stefan Bomhard, who is leaving to take the same role at tobacco firm Imperial Brands.
Tait, who is joining the car seller next month, was most recently on the board of directors at Japanese tech giant Fujitsu, and is also a non-executive director on the boards of software firm Agilisys and non-profit organisation Business in the Community.
READ: Inchcape scraps dividend amid coronavirus disruption
Tait has been in the tech space for over 30 years, holding senior roles at Unisys, Hewlett Packard and Compaq.
Inchcape said the salary will be similar to Bomhard’s with a small adjustment for inflation, but a lower 10% of salary pension contribution. He has accepted a temporary 20% cut during the coronavirus pandemic.
Shares dipped 2% to 484.4p on Monday at the opening bell.